These are our candidates for the “FinTech of the Year” : Qonto / Olinda SAS
The industry has grown up and has long outgrown its infancy. There are so many companies that shape the industry but not all of them are equally well known. Who are the companies that are the glue between finance and digital technologies?
We still consider it important and relevant to give an award to the most interesting and most relevant German FinTech/Startups. An award from the industry in which we are all active, for the industry. Not bought, not externally influenced, reserved for our independence. As we are diverse and furthermore everyone has different views and focuses, this has always resulted in a good mix. The nominations come from the heart, but the final evaluation process is done by us and is completely detached from us.
At this year’s Transactions 20 conference in Frankfurt we want to award the prize for the Fintech of the year 2020 to lend. In total we have 15 Fintechs nominatedwhich the jury will evaluate in the next weeks according to certain categories. As every year, you are in demand as a strong voice of the Fintech community to give out the audience award through your voting. The voting will start soon, but first we would like to give the nominated companies the opportunity to introduce themselves.
Q account
Q account is a digital business account developed by and for business owners The goal: to put financial management in companies on autopilot.
Since 2017, we have been developing step-by-step tailor-made solutions for FOM to enable entrepreneurs throughout Europe to manage their finances easily and securely. Our experience in developing business in France has given us a real understanding of the real needs and challenges of businesses of all sizes, so we can provide the digital tools that are most useful to them. In the future, we will adapt them for each market.
Facts and figures about Qonto
- distribution channel: B2B
- Target group: Corporate customers
- Country of destination: Europe
- Status of financing: Series C
- Other financing envisaged?: yes
- Name of the product(s):
Q account
“Digital financial management for the self-employed and businesses including real-time display of all transactions.”
The Qonto business model
Qonto aims to capture a significant share of the SME market in Europe and is currently active in France, Germany, Italy and Spain to attract new clients. The business model is commission-based and is monetized through monthly subscription plans (Solo, Standard and Premium) and interchange fees through merchants. In addition, Qonto has concluded revenue sharing agreements with strategic partners.
Qonto: the founders & investors
The founders: Alex Prot, Steve Anavi
Investors: Valar, Alven, European Investment Bank (Banque européenne d’investissement), Tencent, DST Global and the Business Angels Taavet Hinrikus (Co-Founder/Chairman of TransferWise) and Ingo Uytdehaage (CFO at Adyen)
Success in 2020
In 2020, we realized our international ambitions by reaching a Series C financing round of 104M€, officially launching the German market and offering our customers the German IBAN since June.
What makes Qonto so special?
Qonto combines a world-class user experience with core banking software and infrastructure. Our web and mobile app is on par with the best B2C banking apps (Qonto is the highest rated banking app in Europe according to Apple (4.8/5), Google (4.7/5) and Trustpilot (4.5/5) in September 2020) and unlike any other native app currently available for SMEs (i.e. a seamless user experience and business banking features such as transfer requests and account access rights in one click).
While traditional competitors focus on “just banking”, Qonto can offer “beyond banking” functionality with solutions for team and financial management. In addition, we strive for transparent pricing and avoid hidden fees that are usually used by traditional competitors to hide the actual account fees.
Finally, we have a Service Level Agreement (SLA) that is available 7/7 for incoming customer support requests and currently achieves a monthly Net Promoter Score (NPS) of > 73, surpassing all our known traditional and direct competitors.
What makes your team?
Did you know that 30% of our team members are international talents? We focus on our international ambitions, so we use English as our main working language to facilitate communication for all. As Mastery is one of our key values, we develop a working environment that allows everyone to challenge themselves, grow and get better every day.
Where do you see yourselves in the future?
In 2025, we want to be the European leader in business finance management. We want to help small and medium-sized enterprises to put their financial management on autopilot.
We help managers in companies to save time so that they can concentrate fully on their core business.
Last words
We communicate regularly via social media and our blog about our features and our history:
https://www.linkedin.com/company/qonto/https://qonto.com/de/blog
